Newsom announces deal to Cap Rising Rent Prices (San Jose, West Covina: renters, homes)

[Finper]

Originally Posted by max210

The impending prop 13 repeal will cause property ownership to fluctuate. It's possible we won't be able to pass on the cost to renters with this cap.

Oh so that's the end game with the rent cap? He wants to cushion the shrapnel with renters if his business prop 13 repeal gets passed so he can go after housing next. Makes sense.

[BB_210]

Originally Posted by Finper

Oh so that's the end game with the rent cap? He wants to cushion the shrapnel with renters if his business prop 13 repeal gets passed so he can go after housing next. Makes sense.

I meant to say property tax to fluctuate and skyrocket. Don't understand why the state needs more money when they're flying that 5th economy banner and Brown left a budget surplus. Could something be wrong? Hmmm.

[Des-Lab]

Newsom absolutely wants to outright steal the homes from the middle class and give it to illegals and poor. And this is one way I can see him doing it:

Step 1: Repeal Prop 13. He can-and probably will-eventually do it by Executive Order. Again...in this one party state, due process and legality be damned. Who's going to challenge, much less stop him? Nobody.
Step 2: Slap a 500k tax bill on the property due immediately 'or else'.
Step 3: Owners, who would now be powerless to stop it, just mail the keys 'as payment' and move out or find an apartment.
Step 4: Place all of those properties into a newly created 'holding' agency (which would represent a newly minted bureaucracy with hundreds or thousands of pensioned positions) and auction them off. Or sell them on a Lottery basis to low income people-for say:150K; the state could break even on cost of procurement for probably as little as 20k since they technically didn't have to buy the property.

"problem solved" with both 'affordability' and 'availability'.

Of course the people from whom the properties were stolen from had to suffer thievery on an unimaginable scale and are royally screwed and there won't be a thing they can do about it except pick up, pack out, and start over somewhere else. But as far as Newsom is concerned, "they owed it" and "aren't welcome" anyway.

I wish I was making up a scenario like this. But I can actually see it happening, since it's already halfway legal inasmuch as the Supreme Court has ruled that it's legal to confiscate a home through Eminent Domain solely to re-assess it at a higher tax rate; that qualifies as "for the common good".

If you own a mansion in Beverly Hills, you'll be left alone. If you own a slum in East LA, you'll also be ignored.

Own a SFH in Eastvale, West Covina, or San Jose: Watch out. That's who he wants to go after.

[JGC97]

What? I'm not sure what you're smokin' Des-Lab but I suggest you lay off it .... immediately. That's some pretty wild conspiracy theory you got going on there.

[BB_210]

He could easily promise all the young folk that he'll repeal prop 13 which would "make housing affordable for them", of course it won't, it'll just funnel more money through the government.

[Des-Lab]

I'll be the first to admit that I would love to be proven wrong and that all of that is unfounded paranoid nonsense.

But given the direction the state is moving in, I don't think it's a farfetched idea at all.

Another idea that may seem "from the fringe" but may actually become a reality in the not too distant future is allowing thievery such as shoplifting and burglary to be legalized if it can be shown to have been done "out of economic necessity". Punishments for such offenses are already minimal to nonexistent and given how Newsom is endlessly wailing about "economic inequality" (with lots of people listening and agreeing), that, too, may actually happen. Again....what recourse will the hard working middle class, who would also become the biggest losers there, have?

Again: absolutely none whatsoever.

[JGC97]

Originally Posted by max210

He could easily promise all the young folk that he'll repeal prop 13 which would "make housing affordable for them", of course it won't, it'll just funnel more money through the government.

Making a promise like that might work. Some people are very gullible. I remember a similar promise from a candidate some years back about giving every student 20K for tuition. He ended up getting quite a few votes. The students, however, got nada, zip, zero. My biggest hope is that people will stop believing promises and ask, "And Mr/Ms candidate, how will you achieve that?" Find out how they'll do it instead of believing the rabbit in the hat story.

[V8 Vega]

California Democrats with their total control and their constantly passing laws to make sure they stay in control plus massive vote fraud, have no fear of the voters at all. It's very frightening, they are total dictators.

[BeauCharles]

Originally Posted by V8 Vega

California Democrats with their total control and their constantly passing laws to make sure they stay in control plus massive vote fraud, have no fear of the voters at all. It's very frightening, they are total dictators.

The old "absolute power" adage. Still, I know a lot of staunch liberal Democrats who are happy with the complete lock on power in Sacramento with a neutered Republican opposition.

[msgsing]

We will wait and see if the State takes action. In my city a one bedroom 700 sq ft apartment rents for 2,000 or more in some complexes.